Terra Classic Project Burns 16 Million LUNC Tokens, Becomes Top Burner

Terra Classic venture Cremation Coin burned 16,455,507 LUNC tokens on Tuesday. With the most recent burn, the newly launched venture has burned over 28.6 million LUNC tokens in lower than a month. Validators and initiatives operating on the Terra Classic community decide to burn thousands and thousands of LUNC tokens after crypto exchange Binance briefly suspended its LUNC burn mechanism till March.

Cremation Coin Burns 16 Million Terra Classic (LUNC) Tokens

Cremation Coin, a newly-launched venture, despatched 16,455,507 Terra Classic (LUNC) tokens to the burn tackle, marking the third-largest LUNC burn transaction this month.

Terra traditional validator Allnodes leads the tally with over 123 million LUNC tokens burned on January 1. It is adopted by TerraOn line casino venture that burned over 26 million LUNC tokens in two transactions, 18 million LUNC burned on Jan 1 and eight million LUNC on Jan 9.

The Terra Classic group has in whole burned over 226 million LUNC tokens in January amid the push to extend the burn fee. Also, the entire LUNC tokens burned by the group has reached over 38 billion LUNC tokens. Moreover, the entire LUNC tokens staked has reached nearly 903 billion, with staked provide ratio of 13.14%.

Cremation Coin shared the burn transaction on Twitter, noting the dedication to the group. However, the venture commits to burn billions in LUNC tokens and desires the group’s assist. It plans to burn 10% of the venture’s whole transaction quantity in LUNC each week.

“Another 16,455,507 LUNC gone! Great job, but we can do better! We need everyone talking about this project’s potential! New website on the way, AMA tomorrow, staking coming! You better get on now before it takes off.”

The venture’s whole burns now account for 28,694,091 LUNC, which might have already made it the nineteenth largest burner on LUNC Penguins portal. However, an earlier 12 million LUNC burn was not counted because of technical causes. At the time of writing, the Cremation Coin is the twenty third largest LUNC burner, greater than Terra Classic influencer Classy Crypto.

LUNC worth presently trades at $0.000172, up 2% within the final 24 hours. The buying and selling quantity has jumped over 40% within the final 24 hours.

Also Read: Will This New Development Help Terra Classic’s (LUNC) Price To 5X?

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